H1 revenue 329 mln eur, down 14.5% (Il Sole 24 Ore Radiocor) - Milan, 26 Jul - The Italian glass maker Zignago Vetro said that in the first half of 2024 net profit slumped by 64.8% year on year to 26.3 million euros as revenue fell 14.5% to 329 million euros.

In the sole second quarter, sales were down 8.6% to 170.7 million euros.

EBITDA fell 38.6% to 73.8 million euros in the first half and 37.7% to 39.5 million in the second quarter.

The EBITDA margin fell to 22.4% in the first half from 31.3% a year earlier and the EBIT margin to 11.7% from 22.3%.

Net debt stood at 297.6 million euros at the end of June against 227.9 million at the end of 2023 and 261.2 million a year earlier.

Zignago Vetro said that the "prolonged phase of weakness" in demand for glass containers for beverages and food, may continue beyond initial expectations and extend to the entire second half of the year, with the prospect of a gradual recovery next year.

AAA-Web

(RADIOCOR) 26-07-24 19:14:51 (0675) 5 NNNN